Early Payments Fintech, Saltare, has joined the Good Business Charter (GBC) and Prompt Payment Code (PPC) as signatories as part of its commitment to best business practices across the UK.
Joining enables Saltare to ensure it not only supports its employees through the Good Business Charter but also encourages its own customers to follow similar practices including paying invoices on time in accordance with the Prompt Payment Code.
Chairman of the GBC board, Simon Fox said: “The Good Business Charter brings together 10 standards, most of which already exist, but in separate places. We have brought them together to give a coherent overall position for all businesses to aspire to. We believe that the GBC has enormous potential to change business practice for good. We hope that because of its simplicity and cost effectiveness, it will quickly gain support.”
Ant Persse, CEO of Saltare, says the charter and the code help encourage prompt payments and strengthen supply chain relationships: “The Prompt Payment Code and Good Business Charter set out clear pathways to ensure businesses across the UK respect and support each other and help create a natural incubator for success. Joining them was an important step for us both to demonstrate our own support for businesses and as a way to encourage those who work within our supply chain to do the same.”
The Good Business Charter offers a straightforward accreditation which recognises organisations that prioritise and care for their employees, the environment, customers and suppliers, whilst also paying their taxes in accordance with the law.
The Prompt Payment Code (PPC) is a voluntary code of practice for businesses, administered by the Office of the Small Business Commissioner (SBC). Established in December 2008, the PPC outlines standards for payment practices between organisations of any size and their suppliers.
Signatories of the code agree to pay suppliers on time, within agreed terms; give clear guidance to suppliers on terms; dispute resolution and prompt notification of late payment; and support good practice throughout their supply chain by encouraging adoption of the stated code.